Syensqo Slips To Loss In Q1, Confirms FY25 Outlook; To Cut 200 Jobs

Syensqo

65.72 EUR 0.89%

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(RTTNews) - Syensqo SA/NV (SYENS.BR, SHBBF), a Belgian materials company, on Thursday reported a loss in its first quarter, compared to prior year's profit, with weak net sales.

For fiscal 2025, the company continues to expect underlying EBITDA of at least 1.4 billion euros.

Syensqo also announced a proposed reduction of around 200 positions as it plans to accelerate restructuring and cost savings initiatives. These actions are expected to both offset the inflationary impact on costs during the year, and deliver more than 200 million euros of run rate savings by the end of 2026.

On the IFRS basis, the first-quarter loss attributable to the company's shareholders came in at 3 million euros, compared with profit of 100 million euros in the prior year.

IFRS basic loss per share was 0.03 euro versus earnings per share of 0.95 euro last year.

For the first quarter, underlying profit attributable to the company's shareholders declined to 100 million euros from 156 million euros in the prior year.

Underlying basic earnings per share were 0.96 euro versus 1.48 euros last year.

Underlying EBITDA declined to 311 million euros from 363 million euros in the previous year.

Net sales decreased to 1.619 billion euros from 1.624 billion euros in the prior year.

Syensqo is currently trading 0.37% higher at EUR 64.98.